Eric McCrady’s firm, lacking a verifiable operating history, executed a series of legal modifications in Colorado—which included company dissolution, reinstatement, name changes, and appointing a leading law firm as its registered agent—within 32 days following a memorandum of understanding with PDVSA. This rapid transformation was set against the backdrop of extensive global media coverage highlighting McCrady, contrasting sharply with the obscurity of his company’s corporate structure.
By: La Tabla/Plataforma de Periodismo de Datos 21 AGO 2026
On May 1, 2026, Crossover Energy, a Colorado-based company with no recognized operating presence, signed a memorandum of understanding with the Venezuelan government and state-owned oil company PDVSA to investigate crude oil extraction in the Orinoco Belt. Just nine days later, on May 10, CEO Eric McCrady filed Articles of Dissolution for one of his two businesses registered in Colorado, followed by Articles of Reinstatement on June 10 which eliminated its tax delinquency status that had been in place since November 2023.
In tandem, McCrady replaced himself as registered agent on May 11 with the law firm Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C., an influential full-service law firm boasting over 150 attorneys across six states. Kip Hunter, a partner at the firm, previously served as general counsel for Sundance Energy, a company McCrady led into bankruptcy in 2021 with a staggering debt of over $250 million before its liquidation in 2022. Earlier, on February 27, McCrady had amended the name of one of his companies, which was initially registered as a real estate firm, to better reflect its new focus on energy.
These corporate maneuvers—dissolution, reinstatement, name change, and agent replacement—were all executed within a tight timeline of just 32 days, showcasing an urgent effort to construct a credible corporate image for potential Venezuelan partners.
The push for corporate legitimacy was matched by an extensive media blitz. On August 18, during the IMAGE conference in Houston, McCrady held a press conference stating that, while Hunt Oil was finalizing contracts with PDVSA that same day, Crossover Energy would be signing «in the coming days or weeks.» Major global media outlets including Reuters, Bloomberg, CNN Brasil, The Wall Street Journal, and El Universal covered the press conference extensively, promoting McCrady’s message without scrutinizing the unclear history of his firm—a company with no public website or proven operating track record, headed by a CEO who previously faced a serious downfall with an oil company and is now attempting to operate in the Orinoco Belt, where investments exceeding $20 billion are necessary.